Health Insurance Glossary R

Renewal

A continuation of an insurance policy on revised terms, such as adjusted health insurance rates.

Rider

An attachment, amendment or endorsement to an insurance policy.

Risk

For a health insurance company, risk is the chance of loss, the degree of probability of loss or the amount of possible loss. For an individual, risk represents such probabilities as the likelihood of surgical complications, medications' side effects, exposure to infection, or the chance of suffering a medical problem because of a lifestyle or other choice. For example, an individual increases his or her risk of getting cancer if he or she chooses to smoke cigarettes.